The stock markets showed resilience at mid-day on Monday, with the Sensex and Nifty displaying marginal gains amid a mixed sectoral performance. At 12.30 pm, the Sensex was trading at 79,930.70, up 127.91 points or 0.16 per cent, while the Nifty advanced 56.65 points or 0.23 per cent to 24,187.75.

The market landscape revealed a nuanced trading session, with significant divergence across different sectors. Cement and auto stocks emerged as key performers, driving positive sentiment. UltraTech Cement led the gainers, surging 3.78 per cent, followed closely by Grasim at 3.67 per cent. Maruti Suzuki continued its morning momentum, rising 2.29 per cent, while Mahindra & Mahindra (M&M) added 1.88 per cent.

Shriram Finance maintained its positive trajectory from the morning, climbing 2.62 per cent, indicating sustained investor confidence in the financial services segment. However, the broader financial services sector showed signs of pressure, with the Nifty Financial Services index retreating 0.17 per cent to 23,969.30.

Conversely, several stocks experienced downward movement. HDFC Life was the most prominent decliner, falling 2.10 per cent, followed by NTPC at -1.65 per cent and Cipla at -1.00 per cent. IndusInd Bank and Larsen & Toubro (L&T) also witnessed marginal corrections of 0.98 per cent and 0.96 per cent, respectively.

The market breadth remained positive, with 2,358 advances against 1,547 declines, out of the 4,107 stocks traded on the BSE. The market’s technical indicators showed 222 stocks hitting 52-week highs compared to 24 at 52-week lows. Notably, 412 stocks were in the upper circuit, while 213 were in the lower circuit.

Sectoral indices displayed a varied performance. The Nifty Bank index retreated by 0.30 per cent to 51,900.70, while the Nifty Next 50 and Nifty Midcap Select indices showed positive momentum, rising 0.53 per cent and 0.72 per cent respectively.

With the market session still ongoing and trading activity expected to continue, investors remain cautious, monitoring ongoing economic signals and corporate developments.

Published on December 2, 2024